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PROFORMA BANK GUARANTEE FOR EARNEST MONEY Deposition Guarantee No: Date: THIS DEED OF GUARANTEE made on this, .day of .two thousand twenty-twenty by the Bank of. (Bank name and address) (herein after
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How to fill out proforma bank guarantee for

01
Step 1: Obtain the proforma bank guarantee form from the issuing bank.
02
Step 2: Fill in the applicant's details, including name, address, and contact information.
03
Step 3: Provide the details of the beneficiary, such as their name, address, and contact information.
04
Step 4: Specify the purpose of the guarantee and the amount to be guaranteed.
05
Step 5: Include any additional terms or conditions that need to be mentioned in the guarantee.
06
Step 6: Ensure that all necessary signatures are obtained, including the applicant's and the bank's representative.
07
Step 7: Submit the completed proforma bank guarantee form to the issuing bank for review and approval.

Who needs proforma bank guarantee for?

01
Exporters who want to assure their overseas buyers of their financial capacity and commitment.
02
Importers who want to secure their payments and protect themselves against potential defaults or non-performance.
03
Contractors or service providers who need to provide a guarantee to their clients as a demonstration of their ability to fulfill their contractual obligations.
04
Government agencies or public bodies that require guarantees from contractors or suppliers as part of the bidding process or contractual agreements.
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A proforma bank guarantee is a financial document issued by a bank that ensures payment to a beneficiary in case a party fails to fulfill their contractual obligations.
Entities or individuals involved in contracts requiring a guarantee of performance, usually suppliers, contractors, or service providers, are required to file a proforma bank guarantee.
To fill out a proforma bank guarantee, one must provide details such as the amount of the guarantee, the parties involved, the terms and conditions of the contract, and any specific clauses required by the beneficiary.
The purpose of a proforma bank guarantee is to assure the beneficiary that they will receive financial compensation if the obligor does not meet their contractual commitments.
A proforma bank guarantee must include the names of the parties involved, the guarantee amount, the date of issuance, terms of the guarantee, expiry date, and any specific conditions or requirements.
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